Odyssey Gold : Company Presentation - RIU Sydney Resources Roundup

Unlocking a regionally significant gold asset in the Murchison District

RIU Resources Roundup

11 May 2023 | ASX: ODY

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Highway Zone Has Classic Murchison Potential

Highway Zone has the depth and strike potential to add significant scale

Resources being defined on granted mining leases in a district with over 7.5Mtpa of milling capacity

Significant oxide mineralisation and shallow high grade underground potential already defined on the Tuckanarra Project

Previous mining in the 1990's produced 52.9koz Au at an average grade of 3.4g/t Au from shallow oxide pits

RC drilling has defined a significant shoot at the Highway Zone with strike and depth potential to add significant scale;

• 300m long and open along strike

• drilled to 200m and open down dip

• 10-20mwide (true width) @ 2-9g/t Au

Continuing success in RC infill and extension drilling

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Murchison Producers Need High-Grade Ore

• Increasing M&A activity in the region driven by the need for current producers to add high-grade gold ounces to continue generating cash
• Several Murchison gold producers are challenged by increasing costs and declining grade in projected ore reserves
• The last mining on the Tuckanarra Project was in the mid 1990's when the gold price was A$550/oz
• Attractive grade of 3.4g/t Au mined from the pitsin the mid 1990's compared with 0.89-2.8g/tAu currently being mined in the district
• Summary of regional M&A activity includes:
• • Ramelius Resources (ASX: RMS) recent (March 2023) $130.7m takeover bid for Breaker Resources
  • RMS acquisition of Rebecca Gold Project in FY2022 (Apollo Resources) for a total of $67.8 million of cash consideration (net of cash acquired) was paid along with 51,850,372 RMS shares
  • Acquisition of the high-grade Penny West gold deposit via a A$228 million largely script deal with Spectrum Resources
• ODY's provides shallow high-gradeouncesand potential underground scale in a district with 7.5Mtpa of processing capacity

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Portfolio of Open Pit and Underground Targets

A portfolio advanced targets of shallow quality oxide mineralisation and high-grade shoots.

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Highway Zone - Outstanding Oxide Potential

• Outstanding results demonstrate consistent thick oxide mineralisation for over 300m of strike at the Highway Zone
• Significant intercepts included:
• • 43m @ 8.3g/t Au from 41m (CBRC0136) including: 12m @ 27.5g/t Au from 70m including 3m @ 80.9g/t Au from 73m
  • 33m @ 3.4g/t Au from 73m including 9m @ 6.4g/t Au from 74m (CBRC0139)
  • 21m @ 3.3g/t Au from 65m including 11m @ 5.5g/t Au from 66m (CBRC0143)
  • 9m @ 2.7g/t Au from 29m (CBRC0142)
  • 23m @ 1.0g/t Au from 41m including 6m @ 2.2g/t Au from 42m (CBRC0149)
  • 20m @ 2.1g/t Au from 42m (CBRC0148)
• Results from the recent drilling build upon the exceptional result of 84m @ 2.5g/t Au from 25m including 15m @ 4.6g/t Au from 25m (CBRC0055)1 previously identified at the Highway Zone

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